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Measure Details

Dedicates Annual Revenue of an Amount Equal to a Tax Rate of 1% Under the State Sales Tax for Property Tax Reform

New Jersey Ballot Measure - Public Question 1

Election: General Nov. 1, 2007 (General)
Outcome: Failed

Categories:
Housing and Property
Taxes

Yes
592,968
(46.92%)

No
670,805
(53.08%)

Summary

INTERPRETIVE STATEMENT This constitutional amendment provides that an amount equal to the annual revenue derived from a tax rate of 1% imposed under the New Jersey Sales and Use Tax Act shall be annually dedicated in a special account in the Property Tax Relief Fund and annually appropriated for property tax reform.

Measure Text

Do you approve the amendment of Article VIII, Section I of the Constitution of the State of New Jersey, to provide for the annual dedication and annual appropriation of an amount equal to the annual revenue derived from a tax rate of 1% imposed under the New Jersey Sales and Use Tax, exclusively for the purpose of property tax reform, through a special Property Tax Reform Account established in the constitutionally dedicated Property Tax Relief Fund?

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